By Karen Cheney, Money Magazine

(Money Magazine) -- Parents of the class of 2011: Your timing is impeccable.

After the ugliest job market in decades, the outlook is improving, just as you're sending your child out into the working world. Employers expect to hire 19% more recent college graduates this year than last, reports the National Association of Colleges and Employers. Not only that, average starting salaries are up 6%, to $50,500.

Of course, as good as this news is, you know it doesn't guarantee that your child is on a straight path to Happily Ever After. Recent grads face many financial hurdles beside the obvious one of landing a job (which may still take months). Kids now come out of college with an average of $24,000 in student debt. And most have little experience budgeting, unless you count making sure there's beer money for Friday. No wonder a recent study for American Express found that 57% of twentysomethings are still financially dependent on Mom and Dad.

Clearly, your days of coaching aren't over yet. So offer your child the advice that follows - worth more in the long run than any handout.